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Dubai’s real estate market will not recover in 2021 as the COVID-19 shocks of 2020 will continue to impact the economy, S&P Global Ratings said. Since the beginning of the coronavirus pandemic the property sector has been subdued. The oversupplied market has witnessed the number of empty homes increasing due to the outflow of expatriates...
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According to the new survey, the majority of UAE residents believe that rents and property prices almost bottomed out and will either stabilize or go up over the next 12 months. The study, released by Peninsula Research, showed that 53 percent of UAE residents expect prices and rents to become stable or go up in the next year. These results...
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The company said tenants could also take advantage of a 20 percent food and beverage discount at the adjacent five-star Oaks Ibn Battuta Gate Dubai Hotel. Luxury residential and hospitality property developer Seven Tides has launched attractive new rental rates, with a two-month rent free period, for new tenants at Discovery Gardens and The...
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50 percent of villas in the new project are already booked by interested investors. The Pulse Villas project is scheduled for completion by 2024. Master-developer Dubai South Properties announced the launch of The Pulse Villas. The project is the second phase of The Pulse development, the heartbeat of Dubai South’s Residential District. The...
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145 plots of land were sold for USD 143 million; 877 apartments and villas were sold for USD 422 million. 1,445 real estate and property transactions worth USD 1.1 billion in total were registered in Dubai during the week from February 18 to February 25, 2021. 145 plots of land were sold for USD 143 million; 877 apartments and villas were sold...
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Despite the impact of the pandemic, the developer said the construction on its projects continued in line with the scheduled timeline. Dubai-based developer Deyaar reported a loss in 2020 owing to higher impairments and fair value adjustments it had to take into account due to the coronavirus pandemic. The developer posted a loss of USD 59...
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According to Knight Frank, London has 68,189 prime homes followed by Dubai at 42,356 units, Sydney (27,436), Hong Kong (21,285), and Singapore (10,416). Dubai has the second-highest number of prime properties among all the major global cities after London. According to Knight Frank, London has 68,189 prime homes followed by Dubai with 42,356...
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The company's revenue increased by 25 percent to USD 66 million in 2020 compared to USD 53 million in 2019. RAK Properties PJSC have announced their financial results for the fiscal year 2020. The property developer recorded a net profit of USD 31 million in 2020 compared to USD 25 million in 2019. The company reported an increase in its...
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Dubai's real estate market witnessed massive activity at the beginning of the year as secondary and ready properties transactions jumped to nearly seven-year high. And according to official and industry executives, this trend of increased transactions will continue in the coming months. A total of 3,300 sales transactions worth USD 1.8 billion...
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The number of deals sealed last year by non-GCC investors increased significantly by 32.5 percent. On the back of stimulus measures rolled out by the government to overcome the pandemic challenges, real estate transactions in Sharjah surged 5.1 percent. In 2020 the emirate recorded 64,459 transactions worth USD 4.3 billion in total. According to...
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